Another Government Giveaway

Recently the government began the Car Allowance Rebate System, referred to by that catchy acronym C.A.R.S. The purpose of this program, the best I can figure, is to stimulate the auto industry. The latest number I have heard is that 224,000 rebates have been awarded for a total of $1 billion. A secondary purpose is to get gas guzzling "clunkers" off the road, replacing them with more fuel efficient newer models. To all the weak-kneed liberals that believe government is the answer to all of our problems this program is the answer to our prayers. As you might imagine I have a different perspective.

Let's look at the concept of the program. If you own a car model year 1994 - 2001 you may receive an allowance of up to $4,500 by trading it in on a new one with better gas mileage. Apparently this is a very popular idea with the consumers because that $1 billion was snatched up in just a few days. Duh! What did they expect? The mindset of the average consumer looks at it as a great deal, getting $4,500 for some piece of crap Ford that isn't worth $500. It is perceived as getting something for nothing, everybody's dream. What about the other side of the deal? Oh yeah, you have to buy a new car and, the last time I checked, those are selling for quite a bit more than this rebate amount. So in the frenzy of "the deal" these lucky people ignore what they ultimately borrow and focus only on the monthly payment. Our wonderful friends at the banks will help us there by financing this car for seven years to get that payment down where they can afford it. The problem is that it will wear out in five to seven years so you will need to buy another one as soon as (or before) you get this one paid off.

Another problem I have is dumping more of MY money into the the auto industry, banks, and the above mentioned people wanting something for nothing. Is this my reward for working hard, saving money, paying off MY debts, and living a fiscally conservative life? To top it all off, the House, seeing the popularity of the program, is falling all over itself to pump another $2 billion into it. I may have a seizure (or a real heart attack) if these idiots keep up these shenanigans!

Here's the deal. Last fall these idiots told us we were on the verge of financial collapse and we had to pump a trillion or so dollars into the financial institutions. We don't have time to study the legislation, put any controls on it, or exercise any kind of prudence. This whole program was to avoid calamity. Get the banks to lending again. It was all B.S. The point is if we keep letting them do the same thing to us over and over again and continue to expect different results then we, and not the politicians, are the insane ones and need to have a collective group session with a psychiatrist!